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925-927 Atlantic Ave
Atlantic City, NJ 08401
AMAZING OPPORTUNITY 12 Apartments & 2 Stores · Retail Property For Sale
EXECUTIVE SUMMARY
1 Block to new Waterpark! Last Building for "GREEN ZONE" (CANNABIS / Marijuana use is allowed in private spaces)Massive building with limitless potential, Super LOW Taxes! Located in the CBD zone, in the very heart of the city! Just one block to the Hardrock, Ocean, and Showboat Casinos, 1 Block of the NEW Indoor Waterpark, just 2 blocks to the worlds most famous beach and boardwalk! Building features two commercial spaces each of which are over 3500 square feet, over 7000 sqft combined. The top two floors are framed up to fit 8 three bedrooms and 4 one bedroom residential units. All the heavy lifting has been done, the property has been fully gutted done to the brickwork, all asbestos free, the building is structurally sound, all new windows throughout, all new flooring joists, all floors are level, and all framed up for 12 residential units. Can be converted to 20 Smaller apartments.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
22,200 SF
Building Class
C
Year Built
1930
Price
$1,595,000
Price Per SF
$71.85
Cap Rate
25%
NOI
$398,750
Percent Leased
68%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
10’
Building FAR
3.40
Lot Size
0.15 AC
Zoning
CBD - NEW WATER PARK , Green Zone, GREAT RENOVATION PROJECT needs work large returns, AMAZING POTENTIAL . AIR BNB Potential CONTACT ME FOR MORE INFORMATION
Parking
5 Spaces (0.23 Spaces per 1,000 SF Leased)
Frontage
56’ on Atlantic Ave
AMENITIES
- Bus Line
- Signage
PROPERTY TAXES
| Parcel Number | 02-00301-0000-00064 | Improvements Assessment | $36,200 |
| Land Assessment | $39,000 | Total Assessment | $75,200 |
PROPERTY TAXES
Parcel Number
02-00301-0000-00064
Land Assessment
$39,000
Improvements Assessment
$36,200
Total Assessment
$75,200
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